- Fireblocks has added support for NFTs, games, and DeFi for Solana apps.
- The blockchain infrastructure service provides a secure suite of development tools for creators and builders.
- The web3 company is looking to leverage Solana’s expanding ecosystem of web3 products.
Fireblocks announced the launch of NFT, blockchain games, and DeFi support for Solana builders. Infrastructure and custodial service provider Web3 is bringing its suite of developer tools to the world’s second most popular blockchain for NFTs.
Solana’s proof-of-stake blockchain platform has become a popular choice for developers looking to launch NFTs and gaming apps. However, the platform lacks the security protocols that Ethereum offers developers. , thus creating difficult compromises.
Now, developers will be able to leverage the Fireblocks Secure SDK to improve app interactions.
Commenting on the announcement, Fireblocks CEO Michael Shaulov said, “Fireblocks’ Web3 engine provides Solana builders with the highest level of security when it comes to accessing the blockchain and its blockchain ecosystem. applications for their customers.
The NFT space has attracted some of the biggest crypto exploits over the past 12 months. According to a report by Elliptic, fraudsters stole over $100 million in NFT scams between July 2021 and July 2022.
Hackers have also taken advantage of the inoperability between blockchains to exploit crypto bridges that allow users to fund their gaming accounts in different cryptocurrencies. The biggest heist of this year took place at the end of March when the Mavis’Ronin Sky Bridge was hacked and $625 million stolen from the Axie Infinity blockchain game.
Although NFT marketplaces and gaming ecosystems have taken steps to improve security protocols, the task remains an ongoing event, making blockchain infrastructure and custodial providers like Fireblocks crucial to the rapid adoption of Web3 applications.
The platform has grown rapidly since raising $310 million in a Series D round in July last year. Fireblocks’ latest fundraising round of $550 million closed in January 2022 valued the Sequoia Capital-backed web3 company at around $8 billion, up from $2 billion five months earlier.
The rapid growth in market value illustrates how much venture capitalists value the security segment of the blockchain space.
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